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View looking south southwest The Dome of the Chain is located in the approximate center of the Haram esh-Sharif. It may have served as a "treasury" in connection with the Dome of the Rock. In its current form, it consists of seventeen columns which support the roof of the structure. On the far side of the structure, the walled off area is a "Mihrab" which directs Moslem prayers towards Mecca during their prayers.
If Ritmeyer's reconstruction of the positioning of the Herodian Temple is correct, then the Dome of the Chain is located on the approximate spot of the sacrificial altar.
For a more general view of the area click here.